The bank – which reports securing 75 percent of its current transactions using one-time passwords (OTP) and two-factor authentication technology – is planning to add voice authentication as a third authentication factor for online transactions. NAB has been testing the voice authentication technology and voiceprints in its call centres in order to identify callers and prevent identity theft and online banking fraud.
The bank thus considers adding voiceprints to its existing mandatory SMS-based two-factor authentication system for personal internet banking, which has been active since 2005.
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